Tag: Exchange

Exchange outflows hit historic highs as Bitcoin investors self-custody

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Bitcoin (BTC) investors have been increasingly moving their holdings to self-custody solutions following the collapse of the world’s second-largest crypto exchange last week. On-chain exchange flow data is showing a surge in withdrawals to self-custody wallets, according to analytics provider Glassnode. In a Nov. 13 post on Twitter, Glassnode reported that Bitcoin exchange outflows had hit near historic levels of 106,000 BTC per month. It added that this has happened only three other times — in April 2022 and November 2020, as well as in June/July 2022. It also reported…

Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) reportedly met with crypto exchange FTX and former CEO Sam Bankman-Fried several times before the crypto firm filed for bankruptcy. SEC Chairman Gary Gensler was rumored to be helping FTX with legal loopholes. However, a new report indicates a contradicting viewpoint. Gensler’s Meeting With Sam Bankman-Fried and FTX Following the bankruptcy filing of cryptocurrency exchange FTX, rumors have surfaced accusing the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, of helping former FTX CEO Sam Bankman-Fried and his bankrupt exchange…

Crypto exchange Kraken freezes accounts related to FTX and Alameda

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United-States-based cryptocurrency exchange Kraken has frozen the accounts associated with “FTX Group, Alameda Research, and their executives,” on its exchange after engaging with authorities.  In a Twitter post on Nov. 13, Kraken said the accounts were frozen “to protect their creditors” and added it “maintains full reserves” and other users’ funds aren’t affected, likely seeking to stamp out fears from users that the exchange might face liquidity issues due to the fund freeze. Kraken has spoken with law enforcement regarding a handful of accounts owned by the bankrupt FTX Group,…

Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto – Regulation Bitcoin News

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The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will be submitted to parliament by the end of the year. Russia’s Central Bank Takes Legislative Initiative in Digital Assets Regulation The Central Bank of the Russian Federation (CBR) intends to file a legislative package concerning the regulation of digital financial assets (DFAs) with the State Duma, the lower house of parliament. Under…

FTX Contract Deployer Unlocks 192 Million FTT, Exchange Token’s Questionable Tokenomics Highlights Red Flags – Altcoins Bitcoin News

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Following the collapse of FTX and the exchange filing bankruptcy on Nov. 11, the trading platform’s exchange token called ftx (FTT) has shed 91.6% in value during the last seven days. While the FTT token’s utility is based entirely on the backing of the now-bankrupt FTX and Alameda Research, the token is still trading for $1.85 per unit. Moreover, FTT’s deployer contract surprisingly unlocked 192 million FTX tokens on Nov. 12, 2022. While a few crypto exchanges have halted FTT deposits, crypto coin aggregation sites like coingecko.com have flagged the…

Crypto Exchange Kraken Freezes Accounts of FTX, Alameda Research, Their Executives – Exchanges Bitcoin News

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Crypto exchange Kraken has frozen a handful of accounts owned by the bankrupt FTX Group, Alameda Research, and their executives. Kraken has been in contact with law enforcement after discovering that an account on its platform was used in connection with unauthorized transfers at FTX. Kraken Freezes Accounts Belonging to FTX, Alameda Research, and Executives Cryptocurrency exchange Kraken has taken steps to freeze verified accounts on its platform belonging to FTX Group, Alameda Research, and their executives. The official Twitter account for Kraken tweeted early Sunday morning: Kraken has spoken…

Indian Authority Freezes 150 Bitcoins Held at Binance Crypto Exchange – Regulation Bitcoin News

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India’s Enforcement Directorate (ED) says that it has frozen 150.22 more bitcoins held at cryptocurrency exchange Binance. The freeze is part of an investigation into mobile gaming application E-nuggets, which was designed to defraud the public, the ED said. India Freezes More Bitcoins at Binance India’s Enforcement Directorate (ED) announced Friday that it has frozen 150.22 bitcoins under the country’s Prevention of Money Laundering Act (PMLA). The ED is the government of India’s law enforcement and economic intelligence agency. The case involves Aamir Khan, s/o Nesar Ahmed Khan, who launched…

Crypto Exchange Uphold Rolls Out Debit Card That Gives Out Rewards in XRP

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Cryptocurrency exchange Uphold has recently announced the release of a new cryptocurrency-linked debit card for users in the United Kingdom that offers them incentive rewards of up to 4% in XRP token. Uphold’s crypto debit card will not incur non-sterling transaction fees, making it perfect for travel and overseas use. The launch of the US version card is slated for the following week and will be “fully available by the end of the month.” According to the document, there are no transaction or membership fees charged when using the debit…

FTX users may be cashing of bankrupt crypto exchange through a Bahamas loophole

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Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Some FTX users appear to have found a way to move money off of the exchange through a back door in the Bahamas. Analysis by data firm Argus found unusual trading patterns over the past five days as FTX was gating customer withdrawals. Most irregularities had to do with digital collectibles, known as NFTs. The patterns suggest “desperate” customers were turning to FTX…